Vendor partnerships: Do your homework!

Choosing a new technology to grow and differentiate your business is a little like selecting a romantic partner: the right match can yield a fruitful long-term relationship, and the wrong one can bruise both feelings and bank accounts. Yet many resellers miss the mark in their quest to find the perfect technology soulmate simply because they fail to ask the right questions.

Certainly, everyone does the basic legwork. Does the solution complement the rest of your portfolio? Can you sell it to the same technology decision makers you’re already talking to so you don’t have to set up a whole new business unit? Does the addressable market offer a sufficient revenue opportunity? Does the vendor have the marketing knowhow and wherewithal to help generate demand, or are they relying on you to tell their product story?

But neglecting to dig deeper may cost you time, money and perhaps a blow to your business reputation. Partnerships regularly unravel over more subtle issues such as immature products, unrealistic pricing, poor technical support, and inadequate understanding of channel needs. Crafting the due diligence process to identify these kinds of trouble spots can prevent a lot of business trauma and avoid dedicating resources to a technology marriage that won’t pay off.